CA
Cormorant Asset Management, LP 13F Filings Tracker & Latest Positions (Q2 2026)
Cormorant Asset Management, LPCIK: 0001583977
Diversified strategySector-focusedMomentum follower
Total reported value
$2.0B
Reporting period: 2026-06-30 · Number of holdings: 50
Cormorant Asset Management, LP disclosed 50 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $2.0B and a quarterly turnover rate of 41.7%.
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Personality snowflake
- Concentration
- 18.46
- Portfolio Stability
- 41.7
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 88.45
Cormorant Asset Management, LP's disclosed holdings carry a Herfindahl concentration index of 0.046 — mathematically equivalent to about 22 equally-sized positions, well below its 50 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.16), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 4% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy 698955101
Trim PRAX
-27.7% -$71.0M
Sold out 260
Trim OLMA
-51.1% -$38.7M
New buy CLYM
Add ANL
+37.3% $25.7M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | PRAX | Praxis Precision Medicines I | Stock-Other | 10.98% | -3.35% | -27.72% | |
| 2 | BBOT | Bridgebio Oncology Therapeut | Stock-Other | 6.98% | -1.06% | — | |
| 3 | ✓ | Stock-Other | 6.47% | +6.47% | NEW | ||
| 4 | RAPP | Rapport Therapeutics Inc | Stock-Other | 5.67% | +1.02% | -10.14% | |
| 5 | ERAS | Erasca Inc | Stock-Other | 5.63% | +0.92% | +3.45% | |
| 6 | EWTX | Edgewise Therapeutics Inc | Stock-Other | 5.23% | +0.07% | -23.01% | |
| 7 | EYPT | Eyepoint Inc | Stock-Other | 5.13% | -0.22% | -15.31% | |
| 8 | ALMS | Alumis Inc | Stock-Other | 4.74% | +0.37% | -16.80% | |
| 9 | ABVX | Abivax Sa-adr | Stock-Other | 4.61% | +0.36% | -11.18% | |
| 10 | DNTH | Dianthus Therapeutics Inc | Stock-Other | 3.75% | -0.25% | -21.05% | |
| 11 | DRUG | Bright Minds Biosciences Inc | Stock-Other | 3.24% | -0.64% | -15.04% | |
| 12 | MLTX | Moonlake Immunotherapeutics | Stock-Other | 3.20% | -0.99% | -28.46% | |
| 13 | BIOA | Bioage Labs Inc | Stock-Other | 3.00% | +0.46% | -17.30% | |
| 14 | ORKA | Oruka Therapeutics Inc | Stock-Other | 2.60% | +1.29% | — | |
| 15 | ANL | Adlai Nortye Ltd-adr | Stock-Other | 2.34% | +1.33% | +37.28% | |
| 16 | BBIO | Bridgebio Pharma Inc | Stock-Healthcare | 2.10% | -1.07% | -35.29% | |
| 17 | TNGX | Tango Therapeutics Inc | Stock-Other | 2.08% | +0.58% | -8.77% | |
| 18 | BHVN | Biohaven Ltd. | Stock-Other | 1.99% | +1.24% | +48.30% | |
| 19 | AGMB | Agomab Therapeutics NV | Stock-Other | 1.64% | +0.34% | — | |
| 20 | MBX | Mbx Biosciences Inc | Stock-Other | 1.56% | -0.12% | -50.89% | |
| 21 | CLYM | Climb Bio Inc | Stock-Other | 1.41% | +1.41% | NEW | |
| 22 | OLMA | Olema Pharmaceuticals Inc | Stock-Other | 1.38% | -1.92% | -51.14% | |
| 23 | DMRA | Damora Therapeutics Inc | Stock-Other | 1.33% | -0.65% | -34.43% | |
| 24 | PHVS | Pharvaris N.V. | Stock-Other | 1.33% | -0.09% | -25.00% | |
| 25 | CRBP | Corbus Pharmaceuticals Holdi | Stock-Other | 1.13% | +0.02% | — | |
| 26 | SYRE | Spyre Therapeutics Inc | Stock-Other | 1.02% | +1.02% | NEW | |
| 27 | DFTX | Definium Therapeutics Inc | Stock-Other | 0.96% | +0.96% | NEW | |
| 28 | NAMS | NewAmsterdam Pharma Company N.V. | Stock-Other | 0.87% | -0.66% | -47.37% | |
| 29 | ROIV | Roivant Sciences Ltd. | Stock-Healthcare | 0.86% | -0.18% | -36.67% | |
| 30 | CABA | Cabaletta Bio Inc | Stock-Other | 0.80% | +0.06% | -9.09% | |
| 31 | ✓ | Helix Acquisition CORP Iii | Stock-Other | 0.71% | +0.05% | — | |
| 32 | ✓ | Ascendis Pharma A/s | Stock-Other | 0.68% | +0.68% | NEW | |
| 33 | ✓ | Stock-Other | 0.62% | +0.62% | NEW | ||
| 34 | INSM | Insmed Inc | Stock-Healthcare | 0.41% | -1.15% | -60.53% | |
| 35 | FTH | Faeth Therapeutics Inc | Stock-Other | 0.39% | -0.09% | +235.78% | |
| 36 | ELVN | Enliven Therapeutics Inc | Stock-Other | 0.39% | +0.39% | NEW | |
| 37 | TARS | Tarsus Pharmaceuticals Inc | Stock-Other | 0.32% | -0.47% | -55.56% | |
| 38 | IBIO | Ibio Inc | Stock-Other | 0.32% | +0.32% | NEW | |
| 39 | CRNX | Crinetics Pharmaceuticals In | Stock-Other | 0.24% | -0.22% | -50.00% | |
| 40 | ARQT | Arcutis Biotherapeutics Inc | Stock-Other | 0.24% | -0.29% | -61.11% | |
| 41 | ARWR | Arrowhead Pharmaceuticals In | Stock-Healthcare | 0.21% | -0.10% | -50.00% | |
| 42 | GPCR | Structure Therapeutics Inc | Stock-Other | 0.21% | -0.21% | -57.14% | |
| 43 | ✓ | Stock-Other | 0.20% | +0.20% | NEW | ||
| 44 | COGT | Cogent Biosciences Inc | Stock-Other | 0.20% | -0.19% | -50.00% | |
| 45 | ALT | Altimmune Inc | Stock-Other | 0.19% | +0.19% | NEW | |
| 46 | AMLX | Amylyx Pharmaceuticals Inc | Stock-Other | 0.18% | -0.06% | -42.86% | |
| 47 | ✓ | Stock-Other | 0.17% | +0.17% | NEW | ||
| 48 | PCVX | Vaxcyte Inc | Stock-Other | 0.15% | -0.14% | -50.00% | |
| 49 | BOLD | Boundless Bio Inc | Stock-Other | 0.13% | +0.13% | NEW | |
| 50 | ✓ | Stock-Other | 0.01% | +0.01% | NEW |
Portfolio Performance
Performance for Q3 2026
+2.8%
Performance Last 4 Quarters
+41.1%
- Stdev
- +37.4%
- Beta
- +0.78
- Alpha
- +5.4%
- Max Drawdown
- -41.3%
- Annualized Perf
- +15.6%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +1.07
- Stutzer
- +0.17
- Treynor
- +0.27
- Sterling
- +0.5
- Calmar
- +0.38
- Information Ratio
- +0.03
- Tracking Error
- +36.1%
- Stdev Down
- +19.5%
- Winning Months %
- +52.8%
- Losing Months %
- +47.2%
- Best 12 Months
- +105.4%
- Worst 12 Months
- -37.7%
- Efficiency Ratio
- +0.19
- Sharpe
- +0.56
- Stdev Sectors
- 0%
- Skewness
- +0.84
- Kurtosis
- +0.87
- Upside Potential
- +2.97
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 50 | $2.0B | 42 | ||
| 2026 Q1 | 47 | $2.0B | 64 | ||
| 2025 Q4 | 35 | $2.2B | 68 | ||
| 2025 Q3 | 36 | $1.4B | 89 | ||
| 2025 Q2 | 42 | $1.3B | 0 | ||
| 2025 Q1 | 44 | $1.3B | 100 | ||
| 2024 Q4 | 48 | $1.8B | 0 | ||
| 2024 Q3 | 45 | $1.9B | 0 | ||
| 2024 Q2 | 49 | $1.7B | 0 | ||
| 2024 Q1 | 57 | $2.3B | 0 | ||
| 2023 Q4 | 48 | $2.1B | 0 | ||
| 2023 Q3 | 49 | $1.7B | 0 | ||
| 2023 Q2 | 64 | $1.8B | 0 | ||
| 2023 Q1 | 72 | $1.5B | 0 | ||
| 2022 Q4 | 73 | $1.5B | 0 | ||
| 2022 Q3 | 73 | $1.4B | 0 | ||
| 2022 Q2 | 80 | $1.3B | 0 | ||
| 2022 Q1 | 77 | $1.3B | 0 | ||
| 2021 Q4 | 78 | $1.7B | 0 | ||
| 2021 Q3 | 88 | $2.5B | 0 | ||
| 2021 Q2 | 104 | $2.9B | 72 | ||
| 2021 Q1 | 120 | $4.5B | 60 | ||
| 2020 Q4 | 105 | $4.2B | 67 | ||
| 2020 Q3 | 93 | $2.6B | 37 | ||
| 2020 Q2 | 81 | $2.6B | 53 | ||
| 2020 Q1 | 73 | $2.2B | 65 | ||
| 2019 Q4 | 67 | $2.5B | 66 | ||
| 2019 Q3 | 75 | $1.6B | 38 | ||
| 2019 Q2 | 72 | $1.7B | 57 | ||
| 2019 Q1 | 64 | $1.5B | 77 | ||
| 2018 Q4 | 70 | $1.2B | 58 | ||
| 2018 Q3 | 65 | $1.5B | 39 | ||
| 2018 Q2 | 58 | $1.4B | 58 | ||
| 2018 Q1 | 52 | $1.3B | 58 | ||
| 2017 Q4 | 52 | $955.3M | 100 | ||
| 2017 Q3 | 51 | $566.4M | 71 | ||
| 2017 Q2 | 71 | $603.3M | 57 | ||
| 2017 Q1 | 75 | $688.7M | 36 | ||
| 2016 Q4 | 77 | $741.8M | 42 | ||
| 2016 Q3 | 84 | $906.8M | 62 | ||
| 2016 Q2 | 84 | $705.2M | 50 | ||
| 2016 Q1 | 84 | $663.8M | 49 | ||
| 2015 Q4 | 82 | $835.9M | 43 | ||
| 2015 Q3 | 87 | $626.1M | 40 | ||
| 2015 Q2 | 80 | $752.2M | 58 | ||
| 2015 Q1 | 71 | $647.1M | 48 | ||
| 2014 Q4 | 70 | $648.5M | 79 | ||
| 2014 Q3 | 65 | $486.2M | 80 | ||
| 2014 Q2 | 54 | $377.4M | 87 | ||
| 2014 Q1 | 46 | $434.9M | 90 | ||
| 2013 Q4 | 37 | $344.6M | 0 |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Holding changes this quarter
Cormorant Asset Management, LP's most significant position changes for 2026-06-30: New buy: ; Sold out: Centessa Pharmaceuticals-adr (260); New buy: Climb Bio Inc (CLYM); Sold out: Maze Therapeutics Inc (MAZE); Sold out: Ascendis Pharma A/S (ASND).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | +6.5% | NEW | New buy | |
| 2 | CLYM | Climb Bio Inc | +1.4% | NEW | New buy |
| 3 | ANL | Adlai Nortye Ltd-adr | +1.3% | +37.28% | Add |
| 4 | ORKA | Oruka Therapeutics Inc | +1.3% | — | Unchanged |
| 5 | BHVN | Biohaven Ltd. | +1.2% | +48.30% | Add |
| 6 | SYRE | Spyre Therapeutics Inc | +1% | NEW | New buy |
| 7 | RAPP | Rapport Therapeutics Inc | +1% | -10.14% | Trim |
| 8 | DFTX | Definium Therapeutics Inc | +1% | NEW | New buy |
| 9 | ERAS | Erasca Inc | +0.9% | +3.45% | Add |
| 10 | ✓ | Ascendis Pharma A/s | +0.7% | NEW | New buy |
| 11 | ✓ | +0.6% | NEW | New buy | |
| 12 | TNGX | Tango Therapeutics Inc | +0.6% | -8.77% | Trim |
| 13 | BIOA | Bioage Labs Inc | +0.5% | -17.30% | Trim |
| 14 | ELVN | Enliven Therapeutics Inc | +0.4% | NEW | New buy |
| 15 | ALMS | Alumis Inc | +0.4% | -16.80% | Trim |
| 16 | ABVX | Abivax Sa-adr | +0.4% | -11.18% | Trim |
| 17 | AGMB | Agomab Therapeutics NV | +0.3% | — | Unchanged |
| 18 | IBIO | Ibio Inc | +0.3% | NEW | New buy |
| 19 | ✓ | +0.2% | NEW | New buy | |
| 20 | ALT | Altimmune Inc | +0.2% | NEW | New buy |
| 21 | ✓ | +0.2% | NEW | New buy | |
| 22 | BOLD | Boundless Bio Inc | +0.1% | NEW | New buy |
| 23 | EWTX | Edgewise Therapeutics Inc | +0.1% | -23.01% | Trim |
| 24 | CABA | Cabaletta Bio Inc | +0.1% | -9.09% | Trim |
| 25 | ✓ | Helix Acquisition CORP Iii | +0.1% | — | Unchanged |
| 26 | CRBP | Corbus Pharmaceuticals Holdi | 0% | — | Unchanged |
| 27 | ✓ | 0% | NEW | New buy | |
| 28 | AMLX | Amylyx Pharmaceuticals Inc | -0.1% | -42.86% | Trim |
| 29 | CNTX | Context Therapeutics Inc | -0.1% | EXIT | Sold out |
| 30 | PHVS | Pharvaris N.V. | -0.1% | -25.00% | Trim |
| 31 | FTH | Faeth Therapeutics Inc | -0.1% | +235.78% | Add |
| 32 | ARWR | Arrowhead Pharmaceuticals In | -0.1% | -50.00% | Trim |
| 33 | MBX | Mbx Biosciences Inc | -0.1% | -50.89% | Trim |
| 34 | PCVX | Vaxcyte Inc | -0.1% | -50.00% | Trim |
| 35 | ROIV | Roivant Sciences Ltd. | -0.2% | -36.67% | Trim |
| 36 | RLYB | Rallybio CORP | -0.2% | EXIT | Sold out |
| 37 | COGT | Cogent Biosciences Inc | -0.2% | -50.00% | Trim |
| 38 | GPCR | Structure Therapeutics Inc | -0.2% | -57.14% | Trim |
| 39 | EYPT | Eyepoint Inc | -0.2% | -15.31% | Trim |
| 40 | CRNX | Crinetics Pharmaceuticals In | -0.2% | -50.00% | Trim |
| 41 | DNTH | Dianthus Therapeutics Inc | -0.3% | -21.05% | Trim |
| 42 | ARQT | Arcutis Biotherapeutics Inc | -0.3% | -61.11% | Trim |
| 43 | GLUE | Monte Rosa Therapeutics Inc | -0.3% | EXIT | Sold out |
| 44 | AXSM | Axsome Therapeutics Inc | -0.4% | EXIT | Sold out |
| 45 | ✓ | Zura Bio LTD | -0.4% | EXIT | Sold out |
| 46 | TARS | Tarsus Pharmaceuticals Inc | -0.5% | -55.56% | Trim |
| 47 | DRUG | Bright Minds Biosciences Inc | -0.6% | -15.04% | Trim |
| 48 | DMRA | Damora Therapeutics Inc | -0.7% | -34.43% | Trim |
| 49 | NAMS | NewAmsterdam Pharma Company N.V. | -0.7% | -47.37% | Trim |
| 50 | 430 | Terns Pharmaceuticals Inc | -0.8% | EXIT | Sold out |
1–50 of 59
Filing History
FAQ
What is Cormorant Asset Management, LP and what type of investor is it?
Cormorant Asset Management, LP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $2.0B, spread across 50 disclosed positions.
What are Cormorant Asset Management, LP's largest equity positions?
Based on the latest 13F filing, Cormorant Asset Management, LP's top holdings by market value are:
1. Praxis Precision Medicines I (PRAX) — $214.3M (11.0%)
2. Bridgebio Oncology Therapeut (BBOT) — $136.2M (7.0%)
3. — $126.3M (6.5%)
4. Rapport Therapeutics Inc (RAPP) — $110.7M (5.7%)
5. Erasca Inc (ERAS) — $109.9M (5.6%)
What changes did Cormorant Asset Management, LP make in its most recent portfolio filing?
In the latest reported quarter, Cormorant Asset Management, LP made 54 notable position adjustments: 13 new positions were initiated, 4 existing holdings were added to, 28 positions were partially reduced, and 9 were completely exited. The largest of these moves: New buy: ; Sold out: Centessa Pharmaceuticals-adr (260); New buy: Climb Bio Inc (CLYM); Sold out: Maze Therapeutics Inc (MAZE); Sold out: Ascendis Pharma A/S (ASND)
What sectors does Cormorant Asset Management, LP focus on?
Cormorant Asset Management, LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Health Care: 100.0%
Investment Profile
Cormorant Asset Management, LP returned an annualized 15.6% over the trailing 36 months — outperforming the S&P 500 by 5.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.78 (less volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 100.0% of the portfolio concentrated in Health Care.
Its turnover score has risen from 0 to 42 over the past 4 quarters — a shift toward more active trading.
It has added to its ALMS position over the past two quarters (+$57.0M, now $92.5M), while trimming BBOT over the same stretch (-$87.6M, still holding $136.2M).
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Developer Access
Access Cormorant Asset Management, LP's institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/cormorant-asset-management-lpCLI
npx alphasmo institutions get cormorant-asset-management-lp